Governance is an integral aspect of every crypto project. It’s the only way blockchain dapps deepen their decentralization claims. One governance structure that is spreading like wildfire is the Decentralized Autonomous Organizations (DAO).
Most crypto projects are embracing the ‘decentralized autonomous organization' approach in seeing to their affairs. A decentralized autonomous organization (DAO) removes the encumbrances that have left projects in ruins. It’s through this governance model that projects can navigate the murky waters of a virtual space without toppling over.
Power To The DAO
One of the reasons why the DAO is extremely popular is that it cements the voting capacity of token holders. Rather than one person calling the shots, more people have their voices heard on the running of the project. Power moves from the hands of team members to the community. Of course, your voting power is still dependent on how many of the native tokens you possess.
How Does Parami Help?
Regardless of how thoughtful a DAO might sound, it’s not perfect. Without some reputable means of managing the identification, a DAO might be a few individuals running the show while masquerading as decentralized.
Through the Parami Protocol, these autonomous entities are better organized. Parami’s efficacy at creating an effective decentralized identity puts to rest doubts about the even spread of the DAO.
Parami achieves the decentralized identity solution for DAO communities through its DID layer. Here, on-chain and social profiles coalesce, resulting in an authentic identity of the DAO members. Moreover, none have to worry about identity theft as there is no central body responsible for managing these identities.
Parami might be a web 3.0 ad layer protocol, but the platform is sympathetic to the DAO cause.
DAOs can rely on the input of the Parami protocol for their decentralized identity gains. Yet, that is merely scratching the surface. On Parami, DAOs can engage members, incentivizing active members in the process.
The protocol’s support for DAOs extends to the management of ad offers to DAO members. Users can decide to accept or decline offers, alter how ad outfits use their data, and more. What Parami hopes to achieve is a more active and beneficial DAO.
With the rigidity of the current crop of DAOs, Parami has a lot of work to do. Through the protocol, DAOs can have smart drops that are more effective at incentivizing members based on activities or contributions.
What Does Parami Gain From This?
DAOs are not the only gainers in this situation; Parami also enjoys some time in the spotlight as the protocol gets more visibility. With every ‘successful’ support offered a DAO, Parami gets a dose of exposure, bringing the protocol closer to its desires of a user-centric Web 3.0.
Parami doesn’t only service DAOs, it caters to ad agencies as well. The platform earns fees from these entities as well as the creation of excellent utility for its native token, AD3.
The support for DAOs is an opportunity for Parami to improve its DID ecosystem. As more users - typically from an increasing number of DAOs - rely on the Protocol’s DID, its capabilities increase. This entices more ad outfits, resulting in more revenue for the platform and its users.
The impact of Parami on DAOs will be massive. Such autonomous organizations will get the chance to maximize their potential without sending their expenses through the roof.
Parami enjoys a decent relationship with DAOs. The latter can keep their house in order while performing at optimal levels. Frankly, both parties are better served as their interests are aligned.